Mecca Bingo
Corporation Street
Taunton
Somerset
TA1 4AH

Freehold Leisure Investment

  • Entirely let to Mecca Bingo Limited - a part of The Rank Group
  • Approximately 37,865 sq ft
  • Recent tenant break option not activated
  • Option to renew the lease
  • Strategic town centre location close to High Street, North Street and Fore Street and adjacent to Taunton Bus Station
  • Nearby occupiers include Costa, Prezzo, Wildwood and Pitcher & Piano
  • Potential for alternative uses (subject to existing lease, planning and consents)
  • Lot
    16
  • Auction
    07/Dec/2017
  • Rent
    £209,051 per Annum Exclusive
  • Status
    Sold
  • Price*
    £1,850,000
  • Sector
    Leisure
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Property Update
  • Mecca Bingo<br>Corporation Street<br>Taunton<br>Somerset<br>TA1 4AH
  • Expand
  • Photos
  • Map

Property Information

Location
Miles
31 miles north-east of Exeter, 43 miles south of Bristol
Roads
A38, A3027, M5 (Junction 25)
Rail
Taunton Railway Station
Air
Exeter Airport
Situation

The property is situated on the northern side of Corporation Street in the heart of Taunton's restaurant and leisure circuit, with nearby occupiers including Prezzo, Costa, Caffè Nero, Starbucks, Wildwood and Pitcher & Piano. Corporation Street connects to Fore Street, North Street and the pedestrianised High Street to the east. Boots the Chemist, Iceland and Tesco Express are represented on High Street, with TK Maxx, WHSmith, Wilko and Sports Direct being represented on Fore Street.

Tenure

Freehold.

Description

The property is Grade II listed and comprises a substantial detached bingo hall arranged on the ground, basement, mezzanine, first, second and third floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

Buyer's Legal Report

For the ease and convenience of prospective buyers,to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is advisable. For more information, please click here.

Tenancy & Accomodation

FloorFloor Areas (Approx)TenantTermRent p.a.xReversion
Ground
Basement
Mezzanine A
Mezzanine B
First
Second/Third
1,453.87 sq m
661.87 sq m
60.20 sq m
44.51 sq m
687.13 sq m
610.30 sq m
(15,649 sq ft)
(7,124 sq ft)
(648 sq ft)
(479 sq ft)
(7,396 sq ft)
(6,569 sq ft)
MECCA BINGO
LIMITED (1)
Approximately
15 years from
10/08/2006 on a
full repairing and
insuring lease (2)
£209,05128/09/2021
Totals
3,517.88 sq m
(37,865 sq ft)
  £209,051 

(1) For the year ending 30th June 2016, Mecca Bingo Limited reported a turnover of £209,543,000, pre-tax profits of £36,665,000 and a total net worth of £488,346,000 (Source: Experian Group 06/11/2017). Mecca Bingo are part of The Rank Group who have been entertaining Britain since 1937 under the Mecca & Grosvenor Casino brands (Source: www.rank.com 06/11/2017).
(2) The lease is full repairing and insuring, subject to a Schedule of Condition.

NB: Please note that the tenant has an option to renew the lease on expiry of the current lease and the term can be renewed for 5, 10 or 15 years at the tenant’s option.

Property Documents

  • Catalogue Page
    Updated Date
    14.11.17
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    14.11.17
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George WatkinsGeorge Watkins +44 (0)20 7034 4861george.watkins@acuitus.co.uk
Associate Auctioneers
Lewis & Partners 15-19 Cavendish Place
London
W1G OQE
Stephen Raingold 020 7580 4333stephenraingold@lewisandpartners.com
Seller's Solicitors
Hamlins LLP Roxburghe House, 273-287 Regent Street
London
W1B 2AD
John Leasure +44 (0) 20 7355 6073jleasure@hamlins.co.uk

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
Availability of finance is of utmost importance to many of our clients
How can Acuitus Finance help you?Finance